Inventions, Discoveries and More

Sales Tax: Introduction of Concept

“Centesima Rerum Venalium” is what it was called in Rome in the 6th year of the 1st Century. It was a 1% sales tax on all goods purchased at auctions. Augustus Caesar of Rome introduced this tax in order to maintain the “Arearium Militare”, a Military Treasury, he created at the time.

Additional Information:

Sales tax – History – WikipediaThe Roman emperor Augustus collected funds for his military aerarium in AD 6 with a one percent general sales tax, known as the centesima rerum venalium (hundredth of the value of everything sold).

Sales Tax – What is a ‘Sales Tax’A sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer and passed on to the government.

Roman Empire – TaxationTaxation under the Empire amounted to about 5% of the Empire’s gross product.[42] The typical tax rate paid by individuals ranged from 2 to 5%.